The moderating effect of board gender diversity on the link between CSR disclosure and Takaful insurance financial stability in times of crisis

This study displays the effect of corporate social responsibility (CSR) disclosure on financial stability (FS) of Saudi Takaful insures during the COVID-19 pandemic by assessing how does board gender diversity (BGD) mediate this effect. This study builds on unbalanced panel of 130 firm-year observations from 26 Saudi Takaful insurers over the period 2020–2024. The dynamic generalized method of moments (GMM) is used to check the interdependence relationship between insurers' CSR disclosure and FS with BGD as a moderator. Results indicate that CSR disclosure improves the FS of Saudi Takaful insurers during the COVID-19 pandemic. Furthermore, the moderation analysis indicates the limited influence of BGD on the CSR disclosure -FS nexus. These results remain robust through rigorous robustness checks.